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Case: Young Professional Magazine

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by

Kristin Bowden

on 25 January 2016

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Transcript of Case: Young Professional Magazine

The 95% confidence interval for the
mean age of subscribes
is given as:


x – zα2sn, x + zα2sn

Sample size, n= 410
Mean, x= 30.11
Standard deviation, s= 4.024
zα2 for 95% confidence= 1.96

The 95% confidence interval for the mean score is given as


30.11−1.96×4.024410, 30.11+1.96×4.024410

=30.11−0.3895, 30.11+0.3895

=(29.7205, 30.4995)

The 95% confidence interval for the
mean household income
of subscribers:
Managerial Report Summarizing Results of Survey
Show statistical Summaries
How to use the results to attract advertisers
How results can be used by editors to identify topics of interest
A summary comparing real estate purchases
Value of Investments
Number of Transactions
Broadband Access
Household income, and those with children


Young Professional Magazine
Developed for a target audience of recent college grads- in their first 10 yrs in a business/professional career.


Case: Young Professional Magazine
Austin Ballor, Kristin Bowden, & Emily Bullen
MGT 512 Winter 2015

Simplifying a sizable amount of data in into a
sensible
summary


x – zα2sn, x + zα2sn

Sample size, n= 410
Mean, x= 74459.51
Standard deviation, s= 34818.21
zα2 for 95% confidence= 1.96


In its 2 years of publication
Fairly successful so far
Publisher interested in expanding advertising base
Advertisers asking about:
demographics & interests of
the current subscribers
Magazine commissioned a survey to develop profiles of their subscribers.
Survey results will be used to help the magazine choose articles of interest and provide advertisers with profile of subscribers.
We have been asked to analyze the results
Quantitative Descriptions in
Manageable Form
Analyzing:


74459.51−1.96×34818.21410,
74459.51+1.96×34818.21410

=74459.51−3370.316,
74459.51+3370.316

=(71089.19, 77829.83)

The 95% confidence interval for
the
mean score
is given as:
Confidence intervals for the
mean age
and
household income
of
subscribers.
Will Show:
Will Show:
The confidence interval for the proportion of subscribers who have
broadband access
at
home
and the proportion that have
children
Confidence interval for
the proportion of
subscribers who have
broadband access at home
:
𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛
p
represents the proportion of success= 0.6244
n
represents sample size= 410

𝑍1−𝛼2𝑓𝑜𝑟 95% confidence level=1.96
The required Confidence Interval is:
The confidence interval for
the proportion of subscribers
who have children
:


𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛
p represents the proportion of success= 0.5341
n represents sample size= 410

𝑍1−𝛼2𝑓𝑜𝑟 95% confidence level= 1.96
The required Confidence Interval:
𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛=0.5341±1.960.5341(1−0.5241) 410
=0.5341±0.0483
𝑝±𝑧1−𝛼2 𝑝1−𝑝𝑛=0.6244±1.960.6244(1−0.6244) 410
=0.6244±0.0469
Would Young Professional
be a good advertising outlet
for online brokers?
The Young Professional
won’t
be a good advertising outlet for online brokers.
Because......
The average or mean number of transactions in
stocks, bonds or mutual funds made
in the last year by subscribes is 5.97,
which is

low.


Would this magazine be a good place
to advertise for companies
selling educational software and
computer games for young children ?
This magazine would be a
good

place to advertise for companies selling educational software and computer games for young children.

The proportion of subscribes having children (0.5341)
or having Internet access at home (0.6244)
is relatively
higher
as compared to those
who don’t have it.

Types of articles
of Interest to Readers of

Young Professionals:

• What to do with minimal disposable income, what should you contribute to, and in what order
• Evaluating long-term goals like retirement or short-term goals like a new car or a house
• How to prioritize essential expenses, versus discretionary expenses
• Why contributing to a retirement fund at a young age is important
• How important it is to understand personal finance
• Will buying a first home pay off as an investment


Thank you
Austin, Kristin, Emily
Full transcript